Banks may split $125 million in Sanofi-Genzyme fees

LONDON/PHILADELPHIA (Reuters) - Banks including Goldman Sachs and JPMorgan stand to earn up to $125 million in fees after Sanofi-Aventis SA finally clinched a $20.1 billion-plus deal to buy Genzyme Corp.

Sanofi’s banks may receive $50 million to $60 million for their mergers and acquisitions (M&A) advice, while Genzyme’s financial advisers could make $53 million to $65 million, according to estimates by Freeman & Co, a consultancy.

However, U.S. Securities and Exchange Commission filings provide some recent examples in healthcare.

Last year Millipore, a U.S. maker of biotechnology tools, agreed to pay up to $33 million to Goldman Sachs for advice on its $6 billion sale to Germany’s Merck KGaA, while JPMorgan earned $21.7 million advising Biovail Corp of Canada on its tie-up with Valeant Pharmaceuticals International.

Reporting by Quentin Webb in London and Jessica Hall in Philadelphia; Editing by David Cowell, John Wallace and Steve Orlofsky